J.
Robert Hunter, Director of Insurance for the Consumer of Federation of America, is
former Insurance Commissioner of Texas. Here are a few quotes from his Afterword to Cash
for the Final Days:
"This book makes a
powerful case that reform, in the nature of consumer protections and disclosures, is vital
in the Viatical Settlement arena."
"Some states have
regulation but no control (Texas, for example). Some states have viatical regulation but
erratic enforcement (California, for example). And there are states with no regulation
whatsoever -- the majority of the nation has no regulation!"
"Illegal operators
flourish because the rewards are great and the penalties small."
"America needs to
control this new industry. In far too many states there is no control -- leaving
terminally ill people at the mercy of some pretty questionable practices."
Ed. Note:
Unfortunately, every word is as current today as when it was written in 1996. But Hunter
also includes a list of specific ways to make viatical regulation effective protection for
terminally ill people who sell their life insurance.
